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Anti-Money Laundering (AML) Software

In 2002, Indonesia established a Financial Intelligence Unit (FIU) called the Pusat Pelaporan dan Analysis Transaksi Keuangan (PPATK), also known as the Indonesian Financial Transaction Reports and Analysis Centre (INTRAC). The FIU was established by Law number 15 Year 2002 concerning the crime of Money Laundering. This has since been amended through Law of the Republic of Indonesia Number 8 Year 2010.

The following practice guidances have been issued by public authorities regarding AML requirements over the years:

• Bank Indonesia Regulation No. 14/27/PBI/2012
• Bank Indonesia Circular Letter No. 15/21/DPNP
• Otoritas Jasa Keuangan (Indonesian Financial Services Authority) No. 22/POJK.04/2014
• PPATK (Centre for Financial Transaction Reporting and Analysis) No. 07/1.02/PPATK/12/10, Appendix 17

Indonesia’s Regulation Concerning Application of Know Your Customer Principles requires financial institutions in the country to train their employees on Know Your Customer (KYC) principles to help protect the financial institution against money laundering.

We can provide Anti-money laundering software that used in the finance and legal industries to meet the legal requirements for financial institutions and other regulated entities to prevent or report money laundering activities. There are four basic types of software that address anti-money laundering: transaction monitoring systems, currency transaction reporting (CTR) systems, customer identity management systems and compliance management software. Anti-laundering systems filter customer data, classify it according to level of suspicion and inspect it for anomalies.